Minor Hotels is set to significantly expand with 200 new properties opening worldwide over the next two years.
- The UK is a crucial market for Minor Hotels, even amidst economic challenges like inflation.
- The company’s financial performance reached record highs last year, with expectations for continued growth in 2024.
- The trend towards longer holiday durations and wellness activities is influencing travel patterns.
- A unified booking platform for Minor Hotels’ diverse brands is a central strategy for future growth.
Minor Hotels is poised for substantial global growth, aiming to open 200 new properties in the next two years. With a current portfolio of 550 hotels and resorts across 56 countries, the group’s expansion plans are ambitious, reflecting a forward-thinking strategy to capture new markets and solidify its international presence.
The UK remains a key market for Minor Hotels, according to the company’s chief executive, Dillip Rajakarier. Despite economic headwinds such as inflation and rising living costs, there is a steady increase in UK customer numbers. Rajakarier emphasised: “In spite of the headwinds the UK has been facing, we’re seeing steady growth from UK customers.”
Financially, Minor Hotels had their most successful year ever last year, and the outlook for 2024 continues to be positive. Rajakarier highlighted strong performances expected in Europe and Asia, noting that travel and tourism are showing no signs of decline. This aligns with the increasing popularity of travel to destinations like Portugal, Spain, Italy, and Dubai, particularly with the potential growth in shoulder season travel due to favourable pricing and climate.
A noticeable shift in travel trends is emerging. There is growing interest in wellness-centric activities, and consumers are opting for fewer holidays but of longer durations. Rajakarier stated: “We’ve seen the UK and most of the European markets taking fewer holidays but for a longer period of time.… The cost of flights has really gone up,” which is influencing these trends.
The strategic centralisation of Minor Hotels’ brands under a single booking platform is seen as a major initiative. Rajakarier described this move as an opportunity to enhance customer experience by offering all eight brands, including Anantara and Avani Hotels & Resorts, through one seamless system. This integration is expected to boost efficiency and accessibility, supporting the company’s expansive growth plans.
Booking through trade channels represents approximately half of Minor Hotels’ UK outbound business, underlining the importance of specialised travel experiences. The company values familiarisation trips, ensuring they are bespoke, featuring distinctive experiences like cooking classes and spa treatments.
Minor Hotels is strategically leveraging market trends and technological integration to foster significant global growth.
